HB 45 -- Income Tax Credit for Donations to Senior Citizen
Services Centers

Sponsor:  Sater

Beginning January 1, 2010, this bill authorizes an income tax
credit for donations of cash or food to any senior citizen
services center.  The amount of the tax credit will be 50% of the
donation's value and cannot exceed $2,500 per taxpayer.  The
taxpayer must file an affidavit with his or her income tax return
verifying the contribution.  The tax credit is nonrefundable and
cannot be transferred, sold, or assigned but can be carried
forward three years.  The annual cumulative amount of tax credits
that can be issued is $2 million.  If the applications exceed
that amount, the Director of the Department of Revenue will
establish a procedure by which the credits are apportioned among
all applicants.

The provisions of the bill will expire December 31 five years
from the effective date.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:23 am